Preferreds start in red, end in green; Entergy Louisiana bonds volatile; Annaly up

By Abigail W. Adams

Portland, Me., Feb. 6 – Preferreds experienced a volatile trading session on Tuesday alongside the broader equity markets. Both the Wells Fargo Hybrid & Preferred Securities Financial index and the U.S. iShares Preferred Stock ETF began the day in the red but ended in the green.

The volatility could be seen in Entergy Louisiana, Inc.’s first mortgage bonds 4.70% series due 2063, which were up, then down, then up again in high volume trading.

Annaly Capital Management Inc.’s 6.95% series F cumulative redeemable preferred stock also saw heavy trading volume during Tuesday’s session. The preferred stock traded up, although with less volatility than the broader markets.

As the roller coaster ride in the equity markets continues, Sotherly Hotels LP is planning to bring an offering of three-year fixed-rate $25-par notes. The offering was announced prior to market open Monday but has yet to price.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.